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Poor weather and the cost of living crisis have done little to dissuade anglers, who flocked to Angling Direct last year. The fishing tackle and equipment retailer, which is listed on London’s Aim
Anglers have shrugged off the cost of living crisis to keep on fishing (Martin Strydom writes). Angling Direct, the Aim-quoted fishing tackle and equipment retailer, said in a trading update that UK sales rose 10 per cent to £40.9 million in the six months to the end of July, helped by higher sales
The new year has started well, with quarterly sales up 54% Angling Direct PLC (LON:ANG) said it will meet market expectations for the current financial year after swinging to a profit during the pandemic. In the three months to end-April, sales climbed 54%, with online up 42% and store sales up 75% despite closures. Assuming no further lockdowns, the AIM-listed group said it is well-placed to deliver profitable growth in revenues, albeit at a lower rate than the prior year as trading conditions and sales mix begin to normalise. The fishing tackle and equipment retailer is also focused interna...
Chairman Martyn Page said the firm's high retail sales were due to customers clicking and collecting orders and substantial demand for its goods following the reopening of its stores when the first national lockdown ended. 'The large pent-up demand built up whilst fishing was prohibited released with a flood of business from mid-June when stores reopened, whilst our online business continued to grow at pace,' he remarked. 'This proved that demand for well-located physical experiential stores, manned by trained enthusiastic colleagues, remains strong in our sector.' Away day: Over 100,...
Fancy being a shareholder in Angling Direct? Now's your chance. Picture: Angling Direct - Credit: Angling Direct Norfolk-born Angling Direct has posted bumper sales despite the pandemic as it saw more than 100,000 new fishers took to the UK’s waterways. The Rackheath-based business, which grew from a small shop in Hoveton to 36 stores across the UK, said revenue from online sales jumped 40pc to £35.3 million after more than 100,000 people signed up for new fishing licenses. As a result the company swung to a pre-tax profit of £2.6 million in the year to January 31, up from a £1.5 m...